Sorry, He saved it so that in 2033, SS wouldn’t be facing cuts. Oh sorry that’s right, they don’t have to repay the debt. (Last 3 pages of 157 page SS Trustee’s report (2014) points out that SS only is required to pay out current RECEIPTS, all surplus goes into a trust account, that only has to be repaid if the Congress doesn’t obligate the funds to other portions of the budget. BTW we (SS) pays Treasury to “manage” our fund.
So what exactly would you do, if you were guaranteed $1,000 per month for the rest of your life? And yes, that’s what it would most likely be, at least at first. So think about that amount, and don’t think about what others would do, think about what you would do. You say you would do more of what…
In order for this to work, the amount offered by a basic income should allow human beings to live with dignity, not around the poverty line. Otherwise, employers would still be able to exploit people and people would still be forced to do menial, damaging jobs to make ends meet and cover expenses.
Basic income needs to provide for everyone’s needs and allow the sick and the technologically unemployed to live to a standard above the poverty line, comfortably and with dignity. It ought to allow us to have savings and have a little purchasing power.
A basic income should be a decent, dignified income, not a shitty menial one so that the unemployed would continue to be poor and stigmatized and not have any purchasing power or savings.